BetMakers - Public Comps and Valuation Multiples

BetMakers Overview

About BetMakers

BetMakers Technology Group Ltd engages in the development and provision of software, data, and analytic products for the B2B wagering market and the production and distribution of racing content. The firm operates in two segments: Global betting services and Global Tote. The Global betting services segment provides customers with a variety of racing software, data, and analytical tools. This includes basic race data such as pricing, runners, and form, as well as analytical tools to consume and leverage the data, and wagering tools such as platforms and managed trading services. The Global Tote segment, which derives maximum revenue, includes the provision of tote software and integrations to facilitate tote liquidity and resulting.

Founded

2013

HQ

Employees

568

Website

thebetmakers.com

Sectors

Casinos & Gambling
Online Betting
ViceTech

Financials

LTM Revenue $56.9M

LTM EBITDA $1.6M

EV

$126M

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BetMakers Financials

As of August 2025, BetMakers reported last 12-month revenue of $56.9M and EBITDA of $1.6M.

In the same period, BetMakers generated $24.2M in LTM gross profit and -$13.7M in net income.

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BetMakers P&L

In the most recent fiscal year, BetMakers reported revenue of $55.8M and EBITDA of $0.9M.

BetMakers expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$56.9M	XXX	$55.8M	XXX	XXX	XXX
Gross Profit	$24.2M	XXX	$35.7M	XXX	XXX	XXX
Gross Margin	43%	XXX	64%	XXX	XXX	XXX
EBITDA	$1.6M	XXX	$0.9M	XXX	XXX	XXX
EBITDA Margin	3%	XXX	2%	XXX	XXX	XXX
EBIT	-$7.6M	XXX	-$8.6M	XXX	XXX	XXX
EBIT Margin	-13%	XXX	-15%	XXX	XXX	XXX
Net Profit	-$13.7M	XXX	-$17.3M	XXX	XXX	XXX
Net Margin	-24%	XXX	-31%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for BetMakers including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $56.9M. EBITDA for the last twelve months was $1.6M. In the most recent fiscal year, BetMakers achieved $55.8M in revenue and $0.9M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$56.9M	Analyst estimates available to subscribers	$55.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$24.2M	Analyst estimates available to subscribers	$35.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	42.6% gross margin	Analyst estimates available to subscribers	64.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.6M	Analyst estimates available to subscribers	$0.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	2.8% EBITDA margin	Analyst estimates available to subscribers	1.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$7.6M	Analyst estimates available to subscribers	-$8.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-13.3% EBIT margin	Analyst estimates available to subscribers	-15.4% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$13.7M	Analyst estimates available to subscribers	-$17.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-24.0% net profit margin	Analyst estimates available to subscribers	-31.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for BetMakers

This financial data table provides comprehensive performance metrics for BetMakers, a company based in Australia. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

BetMakers generated $56.9M in revenue over the last twelve months.
The company achieved $1.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $24.2M.
Net income over the last twelve months reached -$13.7M.

Fiscal Year Performance

In the most recent fiscal year, BetMakers reported $55.8M in total revenue.
Fiscal year EBITDA was $0.9M.
The company maintained a gross profit margin of 64.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 1.6%.
Net profit margin reached -31.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for BetMakers. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

BetMakers Stock Performance

BetMakers has current market cap of AUD 221M (or $145M), and EV of AUD 192M (or $126M).

Market Cap Evolution

BetMakers Stock Data

As of September 18, 2025, BetMakers's stock price is AUD 0 (or $0).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$126M	$145M	XXX	XXX	XXX	XXX	$-0.01

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BetMakers Valuation Multiples

BetMakers's trades at 2.1x EV/Revenue multiple, and -93.4x EV/EBITDA.

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BetMakers Financial Valuation Multiples

As of September 18, 2025, BetMakers has market cap of $145M and EV of $126M.

Equity research analysts estimate BetMakers's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

BetMakers has a P/E ratio of -10.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$145M	XXX	$145M	XXX	XXX	XXX
EV (current)	$126M	XXX	$126M	XXX	XXX	XXX
EV/Revenue	2.2x	XXX	2.1x	XXX	XXX	XXX
EV/EBITDA	79.6x	XXX	-93.4x	XXX	XXX	XXX
EV/EBIT	-16.6x	XXX	-12.0x	XXX	XXX	XXX
EV/Gross Profit	5.2x	XXX	n/a	XXX	XXX	XXX
P/E	-10.6x	XXX	-6.8x	XXX	XXX	XXX
EV/FCF	-38.6x	XXX	-32.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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BetMakers Margins & Growth Rates

BetMakers's last 12 month revenue growth is 9%

BetMakers's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.1M for the same period.

BetMakers's rule of 40 is 7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

BetMakers's rule of X is 26% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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BetMakers Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	9%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	3%	XXX	-2%	XXX	XXX	XXX
EBITDA Growth	364%	XXX	n/a	XXX	XXX	XXX
Rule of 40	7%	XXX	7%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	26%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	79%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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